Enterprise Risk and Opportunity Management - Concepts Step By Step Examples for Pioneering Scientific Technical

Informationen zum Autor DR. ALLAN S. BENJAMIN, PHD, is an independent consultant, a Senior Scientist Fellow for Information Systems Laboratories, Inc., and a provider of risk management and system safety technical services for NASA. He has roughly fifty years of experience in the design and analysis of complex systems in the aerospace, nuclear reactor, nuclear weapon, ballistic missile, and commercial and military satellite sectors. He is a lead author of NASA's risk management and system safety handbooks. Klappentext Risk management strategy for the pioneering technological sectorEnterprise Risk and Opportunity Management provides much-needed guidance tailored specifically to the technological sector. While most enterprise risk management guides are written for traditional businesses and finance firms, this book translates effective enterprise risk and opportunity management (EROM) principles into strategies and practices that work for government, nonprofit, and for-profit organizations in the technological space. Originally designed for noncommercial pioneering enterprises like NASA, an entire chapter is now devoted toward applying the methods to profit-making technological enterprises.A 40-year veteran of the tech sector, Dr. Allan Benjamin outlines risk management strategies for organizations in which the advancement and integration of science and technology within complex systems is necessary for accomplishment of the mission. Commercial EROM strategies do not translate directly when the development and implementation of risky technologies is the organization's primary objective, and clumsy or near-sighted implementation can easily cripple progress. This book provides authoritative guidance tailored to the sector's specialized needs.* Maximize opportunity while effectively managing risk* Understand the core principles of the technological EROM approach and its interfaces with the management of the organization* Comprehend the intricacies of aggregating risks and opportunities from lower to higher levels of the organization* Gain expert insights specific to the technology sector* Mitigate and control the risk that comes with pursuing discoveryIn practice, EROM in this sector involves working with mostly qualitative data, and is characterized by high uncertainty. Managing risk without handicapping the organization requires a specific set of adjustments to traditional EROM, and a more nuanced approach to the idea of "acceptable risk. Balance is key in technological EROM, and Enterprise Risk and Opportunity Management provides foundational guidance, real-world strategy, and enlightening examples for getting it right. Zusammenfassung Risk management strategy for the pioneering technological sector Enterprise Risk and Opportunity Management provides much-needed guidance tailored specifically to the technological sector. Inhaltsverzeichnis Preface xxiii Introduction xxv CHAPTER 1 An EROM Primer for Organizations Concerned with Technical Research, Integration, and Operations (TRIO Enterprises) 1 1.1 EROM Scope and Objectives for TRIO Enterprises 1 1.1.1 What Is EROM? 1 1.1.2 Why Is EROM Important to TRIO Enterprises? 2 1.1.3 What Kinds of Risk and Opportunity Are Considered within EROM for TRIO Enterprises? 3 1.1.4 How Does EROM for Nonprofit and Government TRIO Enterprises Differ from EROM for Typical Commercial Enterprises? 4 1.1.5 To What Extent Does EROM Work within the Existing Management Structure of a TRIO Enterprise? 5 1.1.6 How Does EROM Facilitate Negotiations between a TRIO Enterprise and the Entities That Provide Funding and Governance? 6 1.1.7 Can Various Management Units within the Organization Separately Apply EROM as Though Each Were an Enterprise? 7 1.1.8 In What Areas Does EROM Facilitate Strategic Planning, Implementation, and Evaluation of Performance for TRIO En...

List of contents

Preface xxiii
 
Introduction xxv
 
CHAPTER 1 An EROM Primer for Organizations Concerned with Technical Research, Integration, and Operations (TRIO Enterprises) 1
 
1.1 EROM Scope and Objectives for TRIO Enterprises 1
 
1.1.1 What Is EROM? 1
 
1.1.2 Why Is EROM Important to TRIO Enterprises? 2
 
1.1.3 What Kinds of Risk and Opportunity Are Considered within EROM for TRIO Enterprises? 3
 
1.1.4 How Does EROM for Nonprofit and Government TRIO Enterprises Differ from EROM for Typical Commercial Enterprises? 4
 
1.1.5 To What Extent Does EROM Work within the Existing Management Structure of a TRIO Enterprise? 5
 
1.1.6 How Does EROM Facilitate Negotiations between a TRIO Enterprise and the Entities That Provide Funding and Governance? 6
 
1.1.7 Can Various Management Units within the Organization Separately Apply EROM as Though Each Were an Enterprise? 7
 
1.1.8 In What Areas Does EROM Facilitate Strategic Planning, Implementation, and Evaluation of Performance for TRIO Enterprises? 8
 
1.2 EROM Definitions and Technical Attributes for TRIO Enterprises 9
 
1.2.1 What Is Meant by Risk and Opportunity within the Context of EROM? 9
 
1.2.2 How Do We Differentiate between Risks and Opportunities during Strategic Planning versus during Plan Implementation and Performance Evaluation? 11
 
1.2.3 How Does EROM Help Achieve an Optimal Balance between Risk and Opportunity? 11
 
1.2.4 What Is Meant by the Terms Risk Scenario, Opportunity Scenario, Cumulative Risk, and Cumulative Opportunity? 13
 
1.2.5 How Does EROM Incorporate Risk-Informed Decision Making and Continuous Risk Management within the rganization as a Whole and within Different Management Units? 14
 
1.2.6 Is the Analysis in EROM Principally Qualitative or Quantitative? 16
 
1.2.7 Can EROM Account for Unknown and Underappreciated (UU) Risks? 17
 
Notes 18
 
References 19
 
CHAPTER 2 Coordination of EROM with Organizational Management Activities 21
 
2.1 The Executive, Programmatic, and Institutional/Technical Management Functions and Their Interfaces 21
 
2.2 EROM-Relevant Management Activities 23
 
2.2.1 Activities within Each Management Level 23
 
2.2.2 Roles and Responsibilities within and between Each Management Level 26
 
2.3 Coordination of EROM with Management Activities 31
 
2.3.1 Organizational Planning and Plan Implementation 31
 
2.3.2 Evaluation of Organizational Performance and Replanning 31
 
2.3.3 Alignment with Management-Level Roles and Responsibilities 35
 
2.4 Communication across Extended Partnerships 35
 
2.4.1 Nature of the Strategic Objectives That Require Extended Partnerships 35
 
2.4.2 The Challenges of Conducting EROM across Extended Partnerships 42
 
2.5 Contribution of EROM to Compliance with Federal Regulations and Directives 43
 
2.5.1 OMB Circular A-11 and GPRAMA (Government Performance, Results, and Budgeting) 43
 
2.5.2 EROM and Internal Controls from the Viewpoint of Federal Regulations and Guidance 45
 
2.5.3 OMB Circular A-123 (Management's Responsibility for ERM and Internal Control) and the Required Statement of Assurance 47
 
2.5.4 Example Risk Profile from OMB Circular A-123 49
 
Notes 52
 
References 52
 
CHAPTER 3 Overview of EROM Process and Analysis Approach 55
 
3.1 Organizational Objectives Hierarchies 55
 
3.1.1 Objectives Hierarchies for Each Management Unit 55
 
3.1.2 Objectives Hierarchy for the Enterprise as a Whole 57
 
3.2 Populating the Organizational Objectives Hierarchies with Risk and Opportunity Information 61
 
3.3 Establis

Product details

• Authors: Allan S Benjamin, Allan S. Benjamin, As Benjamin, Benjamin Allan S.
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 03.03.2017
• EAN: 9781119288428
• ISBN: 978-1-119-28842-8
• No. of pages: 360
• Series: Wiley Finance; Wiley Finance Editions; Wiley Finance; Wiley Finance Editions
• Subjects: Social sciences, law, business > Business > Business administration; Budgeting and financial management, Finance & Investments, Finanz- u. Anlagewesen, Institutionelle Finanzplanung, Institutional & Corporate Finance, Finance and the finance industry